Togo's COOPEC Gaieté and Centrale Transform into COOP-CA

The Togolese Cooperatives of Savings and Credit, COOPEC Gaieté and Centrale, have changed their legal form to Cooperative Societies with a Board of Administration, COOP-CA. This transformation was approved during an extraordinary general assembly held on November 14 in Sokodé. The change is driven by the need to comply with Togo's March 24, 2026 law regulating microfinance, which imposes new requirements on legal status, capitalization, governance, and internal control.

Participants at the assembly adopted the transformation decisions for both COOPECs into COOP-CA, validating new statutes, uniform internal regulations, and a new affiliation convention with the Faîtière des unités coopératives d'épargne et de crédit (FUCEC-Togo). The new financial regulations of FUCEC-Togo were also approved. The members reconducted Mr. Ouro-Gnao Lo'Bo as head of the Boards of Administration, each composed of 7 members for a three-year term, renewable once.

The Boards of Administration for both COOP-CA Gaieté and Centrale will be led by Mr. Ouro-Gnao Lo'Bo, with Mrs. Bonnah Makilawe and Mrs. Hayigbedji Piyahalo serving as vice-presidents. The re-elected president stated that the new legal form will evolve the old model of direction with three bodies into a unified model with a streamlined Board of Administration of 7 members. He promised to work with his team to complete the remaining transformation formalities and improve services to meet population expectations while ensuring the cooperatives' sustainability.

According to Mr. Kokou-Ngonou Kossi, Director of Finance and Heritage of FUCEC-Togo, the adoption of these new statutory texts will help to clean up institutional governance, clarify the responsibilities of leaders, and consolidate control mechanisms to guarantee more rigorous and sustainable management. He added that the new regulatory framework will also promote better client protection, more reliable information systems, improved digitalization of services, and enhanced resilience of institutions in the face of economic challenges.

The prefect of Tchaoudjo, Tchimbiandja Yendoukoa Douti, welcomed the relevance of these reforms, hoping they will contribute to consolidating cooperatives close to their members, faithful to their values, and oriented towards the future. He called on leaders to manage the cooperatives in a healthy and transparent manner, on personnel to provide professional and respectful service to members, and on cooperative members to respect their commitments.

The transformation of COOPEC Gaieté and Centrale into COOP-CA aims to improve the services offered to the population, ensuring that they meet the expectations of the members while guaranteeing the sustainability of the cooperatives. The new regulatory framework will also promote a better protection of the clientèle, the fiabilisation of the information systems, a better digitalisation of the services and the reinforcement of the resilience of the institutions face to the economic challenges.

The successful transformation of these cooperatives is expected to have a positive impact on the Togolese microfinance sector, promoting a more robust and sustainable financial system that serves the needs of the population. The FUCEC-Togo and the Togolese authorities will continue to support the development of the cooperative sector, ensuring that it remains a vital part of the country's economic landscape.

Key points

• The transformation of COOPEC Gaieté and Centrale into COOP-CA is aimed at complying with Togo's 2026 microfinance regulations.
• The new regulatory framework will promote better client protection and more rigorous management.
• The transformation is expected to have a positive impact on the Togolese microfinance sector.